New Commercial Construction in
For Sale
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7211 Waelti Dr, Melbourne, FL 32940
Modern commercial property in a rapidly growing Florida location.
Property Size14,000 SF
Price / SF$278.57
Days on Market716
Property Features for 7211 Waelti Dr
General Information
Standard status
Active
Size
14,000 SF
Property subtype
Office, Retail
Building Details
Year Built
2024
Listing Agency:
Tyche Realty LLC
(321) 693-3480
Listed By:
Stefanie Lattner · License #BK3262067
Source:
Crexi
Added: Sep 11, 2024
Changed: Jul 6
Last Checked: Aug 26 at 8:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tyche Realty LLC
Investment Insights
Based on property information with market context.
This is a rare opportunity to own brand-new commercial construction in the heart of Florida’s Space Coast. The versatile property features 3 separate entries, a garage door, 20–24 ft ceilings, 70 parking spots, and striking exterior finishes. The property is zoned BU-1, flexibly allowing a wide range of business uses. It is located in the highly desirable Suntree/Viera corridor, just 15 minutes to the beach, and positioned in one of the fastest-growing markets on Florida’s coast. The location benefits from sustained job growth, strong economic momentum, and major new investments nearby. The property is surrounded by world-class employers including SpaceX, Blue Origin, Boeing, Northrop Grumman, L3Harris, Embraer, Health First, and more. The property size is 14000 square feet.
Key Highlights
- Brand‑new 2024 commercial construction: Avoids maintenance and inefficiencies of older buildings.
- Located in the high‑growth Suntree/Viera corridor, 15 minutes to the beach.
- Versatile BU‑1 zoning allows for a wide range of business uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$190,512
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,810,240
$3.8M
Cap Rate 7%
$2,721,600
$2.7M
Cap Rate 9%
$2,116,800
$2.1M
Market Conditions
NOI Build-Up for 14,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$302.4K $21.60/SF
− Vacancy
−$48.4K −$3.46/SF
EGI
$254.0K $18.14/SF
− OpEx
−$63.5K −$4.54/SF
NOI
$190.5K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,810,240
Cap Rate 7%
$2,721,600
Cap Rate 9%
$2,116,800
Alternative Uses
Best Use
Office B
$2.72M
$2.38M – $3.18M
NOI $190,512 @ 7.0% cap · market cap 4.88%
Second Best
Mixed Use
$2.32M
$2.03M – $2.71M
NOI $162,435 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,552 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Explore this area
Business Placement
Demographics for 32940, FL
44,869
Population
21,433
Households
2.1
Avg Household Size
51
Median Age
52%
College-Educated
97%
High-School Grad
57.3 sq mi
ZIP Area
783
Density / Sq Mi
$106,511
Median Household Income
$56,072
Median Earnings
$1,904
Median Rent
$444,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Modern commercial property in a rapidly growing Florida location.
Where is this mixed-use property located?
The property is located at 7211 Waelti Dr Melbourne, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Brand‑new 2024 commercial construction: Avoids maintenance and inefficiencies of older buildings.; Located in the high‑growth Suntree/Viera corridor, 15 minutes to the beach.; Versatile BU‑1 zoning allows for a wide range of business uses.
